Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.

Saturday, April 09, 2016

Convicted Ex-High-Living Lawyer Featured On CNBC's "American Greed" Who Counted Desperate Widows, Orphans, People w/ High Medical Expenses Among Three Dozen Clients Fleeced Out Of $6.7 Million In Settlement Funds Sits In Prison As Lender Unloads His Former 25-Room Lakefront Estate For $1.3 Million

In Carmel, Indiana, The Indianapolis Star reports:

A 25-room Carmel home that belonged to a disgraced attorney known for expensive taste sold March 15, as its former owner sat in prison.

William F. Conour's 9,784-square-foot house at 10858 Sedgemoor Circle sold for $1.3 million, according to the Hamilton County assessor's office. The house is in Carmel's gated Bridlebourne subdivision.

Conour, once a leading personal injury and wrongful death attorney in Indianapolis, was sentenced in 2013 to 10 years in federal prison after prosecutors said he stole $6.7 million in settlement money from 36 clients in what amounted to a Ponzi scheme. He lost his Carmel mansion to foreclosure in 2014 while serving his prison sentence.

The six-bedroom, nine-bathroom Georgian-style house is among several properties Conour owned, including another Carmel house and a horse farm in northern Hamilton County. A listing for the Bridlebourne house said it includes a guest house, pool, hot tub, gazebo and dock that stretches out onto a lake. The house also has a library and six fireplaces.

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Conour, who was a sought-after attorney for construction accident victims, pleaded guilty in 2013 to federal wire fraud. Prosecutors said he spent clients' settlement money and tried to replace it with subsequent settlements. Victims included widows, orphans and people with large medical expenses.

In addition to prison time, Conour was sentenced to pay almost $7 million in restitution to his victims. He has since sought in court filings to reduce that restitution to as little as $450,000. Conour late last year also filed a motion seeking to be freed from his prison sentence, which he is serving in West Virginia.

The CNBC series "American Greed" featured Conour's case in October, noting his lavish lifestyle that included multiple residences, luxury cars, $1,000 bottles of wine and long stays in Scotland. Conour's former 25-room estate makes several appearances in the episode.

CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)

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